Today, I will be putting the example of HAN- GWON LUNG, THE CO- FOUNDER OF TAILORED INK, the ways he opted for increasing his salary after he was fired from his earlier job.
When he completed his graduation with B.A. in English in 2010, he had some dreams of becoming something special in his life but at that time, he had no such experience of work which he could put in his resume. He wanted to be a writer, but again he was not having an experience. There was no single published clip or book of his own. As the journey of the next few years ahead, his life will be full of difficulties and struggles.
For since 2010, he was unemployed three times, for a total of 13 months. Sadly, he failed to acquire a ” full – time job” longer than a year. He quit three jobs, has also been let go once and has also got fired once.
Most of his friends were getting employed, and he was living with his parents and despairingly running after freelance gigs. So, when he finally managed to get a great job, he could not believe his luck. He was so happy. He gently let go six months of the job because he was an awful employee.
And then he chose five things that completely turned his life. These five things totally changed his life. During two months, he was working with 50 plus hour weeks for his own clients and making six figures, more than twice as compared to his previous job’s salary.
And now he is making more than three times of his original salary.
What he did was just tried to learn a few new habits.
Here are those five important ways, he opted after getting fired from the work.
1. Learned how to do sales.
Majority of people are not business minded and he was another no exception. Instead of sitting down and taking my some time to learn how to sell my services and make more and more clients, he planned out how he could get his own credentials and brilliance of his own. Business author DANIEL PINK argues that in today’s hyper connected society, we all are sale persons. What he exactly mean by his words was, that if you are selling yourself short if you don’t learn how to sell.
2. Spent an hour each day on new business
After checking his sent folder, he found that the emails he do write has got the highest response rates and they were also the shortest and the most concise one. So, he wrote up an email template and customized it for every job application by addressing the poster’s specific all his pain and gain.
His system worked like a charm. Now, for each and every five jobs, he would apply to, he get one or two responses very easily. If he consistently apply for new jobs everyday. He even used the same template for LinkedIN Mail.
3. Set your own hourly rates
Let us assume, if anyone works at a consultancy and his salary is $ 50,000 per year or something near to $25 per hour. Taking a 5 percent pay raise each year, his salary would be $63,814 per year after near about five years, or about $32 per hour. Not that much bad, but nothing to write home about, either.
Imagine if you quit that job and joined FREELANCE NATION. In your first year of business, you decide to charge $50 per hour, just to see if you can get clients at that rate. If you do, then you would be charging $60 per hour from the next year. By the end of the fifth year , you are charging $100 per hour and making well over six figures.
4. Rejecting bad clients
When you work for a company, there is no such part as a bad client- until and unless the sales director says so. But as we all know, bad clients are very real.
For B2B Businesses, every bad client is just like a rose full of thones. When you only have 10 to 20 clients, then you really can not afford to spend 80 percent of your time watching over a few bad eggs that add up to only 20 percent of your expenses. In other words, make sure that you work with good clients those all are willing to pay your rates.
5. Decide to do something which you love – that also pays you
People always argue about whether you should do something you love or something that pays the bills. But does this have to be a choice, no.
If you believe that no one likes their job, you are subscribing to one of the most self- destructive beliefs in the world. Your main job is what you will be doing eight plus hours a day, five or six days a week, until you retire. So why you have to choose between passion and profit, do something you love and something that pays the bills. The two of them do cross the paths.
Still, it is up to you to find out the intersection. There is no GOOGLE MAPS for that.